My first, and certainly not my last blog, on one of the biggest issues in business….raising MONEEEEEYYY !!
I’m going to start giving my 2 cents worth now….and honestly, yes, there will a lot of:
“well that works in principle, but in REAL LIFE, it’s not like that!”
And the truth is, it’s like taking a penalty kick in football. It’s easy in the training field. But if you’re taking one in the World Cup Final, where there is so much resting on it; the stress, the nerves, the FEAR of missing, can take over and affect you ability. Holding your nerve can NEVER EVER be taught or learned by reading all the literature out there about the ‘art of fund raising’.
But at least, there are some basics that one should know before you start. The rest, is all about experience and ultimately, your NETWORK, but i’ll come to that at the end of all this. First up is grow some very thick skin!
out of 20, you’ll get 19 rejections! Those rejections will vary in reason. Most of the time, it’s not you, it’s them! Some of the reasons will be you and those are the ones you need to internalise and use to your advantage. It’s easier said than done to not get demoralised. Also, the more arrogant you are, the thinner skin you have. Sorry! But that’s just my observation in life. you can dish it out, but you can’t take it. For those of you like that, you have to eat some humble pie. For others, you have to accept that you got to tweak your pitch, or that you are genuinely not on the right track. But in most cases, it’s like a marriage, not everyone is a match and you have to keep looking. Having thick skin will keep you in the game for longer.
Next up, i’ll talk more about finding the right partner.